CT HB06623

Requires property and casualty insurers and insurance producers to disclose to insureds whether a property assessment, evaluation, or inspection is required before establishing premium costs, effective January 1, 2022

Amends the standard fire insurance policy to require insurers to confirm receipt of proof of loss within 15 days and disclose claim approval/denial status within 21 days of receiving completed proof of loss

Establishes specific timelines for the appraisal process: appraisers must complete appraisal within 15 days and submit disagreements to the umpire within 15 days thereafter

Allows insurers and insureds to agree in writing to partial advance payments on losses, which must be credited against the total loss amount without affecting the 30-day payment deadline

Defines "depreciation" in fire insurance policies as the decrease in real property value over time due to wear and tear, with actual cash value calculated as replacement cost minus reasonable depreciation